Page 15 - Uditha Jayasinghe News Today

A year after angry Sri Lankans stormed the presidents residence and forced his ouster during a meltdown of the economy, the islands streets are calm, there are no serpentine queues at fuel stations...

COLOMBO (Reuters) - Sri Lankas parliament approved a domestic debt restructuring plan on Saturday that is crucial to continue a $2.9 billion bailout from the International Monetary Fund (IMF).

COLOMBO (Reuters) -Sri Lankas key inflation rate eased sharply to 12% in June from 25.2% in May, the statistics department said on Friday, showing a glimmer of recovery for the crisis-ridden economy. Soaring inflation has battered the economy for more than a year after a severe foreign exchange crisis set off the Indian Ocean islands worst financial crisis in seven decades.

The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March. About $500 million of the funds will be allocated for budgetary support while the remaining $200 million will be for welfare support earmarked for those worst hit by the crisis.

Sri Lanka is asking foreign investors in its international sovereign bonds to take a 30% haircut and is seeking similar concessions from holders of its other dollar-denominated bonds as it seeks to restructure its massive debt, its central bank governor said on Thursday. The government will also exchange treasury bills into long-term bonds as part of a domestic debt restructuring programme, Nandalal Weerasinghe told a press conference as he unveiled details of the long-awaited plan, which will ...

COLOMBO, June 29 (Reuters) - The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (...

The island nation is asking foreign investors in its international sovereign bonds to take a 30% haircut and is seeking similar concessions from holders of its other dollar-denominated bonds as it seeks to restructure its massive debt, its central bank governor said on Thursday. A severe shortage of dollars tipped the island nation of 22 million people into its worst financial crisis since independence from Britain in 1948 last year, triggering its first foreign debt default in May 2022. Pledgin...

Sri Lanka announced a restructuring plan for its massive domestic debt on Thursday to meet targets set by the International Monetary Fund (IMF) and aim to turn around its economy, which has been hammered by a financial crisis.

(Reuters) -Sri Lanka announced a restructuring plan for its massive domestic debt on Thursday to meet targets set by the International Monetary Fund (IMF) ...

Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March.